HP Considering Cutting 25,000 Jobs, Bloomberg Says

HP is considering laying off 25,000 employees, or about 8 percent of the company. The computer maker is reportedly considering the layoffs in an effort to cut costs and to better address the decreased demand for computers and services, Bloomberg said Thursday. HP is chewing over laying off 10,000 to 15,000 employees from its enterprise services group, although the plans are not yet final and it’s unknown where the other cutbacks will be made. ISI Group analyst Brian Marshall said HP’s decision to cut its workforce could “enable investments in strategic, higher growth areas” and estimated that HP could save $1.2 billion if it cut 18,000 jobs. HP may provide an early retirement option to employees, too.